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The end of the financial year (EOFY) is fast approaching, and as always, it’s a busy time for accountants and businesses alike. With deadlines to meet and important payments to be made, it’s easy for things to slip through the cracks. But don’t worry – we’ve put together a handy list of the key dates you need to know, so you can stay ahead of the game and avoid any last-minute stress.

Here’s your quick guide to the important deadlines in the lead-up to EOFY.

21st April 2025: Monthly Superannuation Guarantee Contribution for March 2025

Next up, another superannuation contribution, this time for March 2025. This one’s due on the 21st April 2025, so make sure you get those payments in before the deadline. It’s a good practice to set a reminder each month so that this doesn’t sneak up on you.

28th April 2025: Quarterly Superannuation Guarantee Contribution for 1st Jan 2025 – 31st Mar 2025

If you’re on quarterly payments for superannuation, this is your deadline for the period of January to March 2025. Mark the 28th April in your calendar to make sure your super contributions for the first quarter of the year are paid on time.

21st April 2025: IAS – Monthly PAYG Withholding Due for March 2025

For businesses that lodge Instalment Activity Statements (IAS), the monthly PAYG withholding for March 2025 is due by the 21st April 2025. This covers the tax that’s been withheld from employee wages and other payments made by your business, so it’s vital to ensure everything is accounted for.

21st May 2025: IAS – Monthly PAYG Withholding Due for April 2025

Next in line is the PAYG withholding for April 2025, which is due on the 21st May 2025. Staying on top of these monthly obligations is key to avoiding any late fees or penalties. It’s a good idea to have a system in place for tracking these monthly payments.

21st May 2025: 2025 FBT Returns Due (or 25th June 2025 If Lodged by Tax Agent)

The end of the Fringe Benefits Tax (FBT) year has passed which means it’s time to start gathering your records. The FBT return is due on 21st May 2025, but if you’re working with a tax agent, you’ve got a little extra breathing room, with the deadline extended to 25th June 2025. It’s a good time to check that all your documents are in order and your records are up to date.

26th May 2025: Quarterly BAS Due for 1st Jan 2025 – 31st Mar 2025

For those with a quarterly Business Activity Statement (BAS), the due date for the January to March quarter is 26th May 2025. This will include details of your business’s GST, PAYG withholding, and other tax obligations for the quarter. Having everything ready before this date will help you avoid any last-minute panic.

21st June 2025: IAS – Monthly PAYG Withholding Due for May 2025

Finally, the last key due date before EOFY is the PAYG withholding for May 2025, which needs to be lodged by 21st June 2025. Keep an eye on this date to ensure that you meet all your obligations in the final stretch of the financial year.

Stay Ahead of the Game

The EOFY can feel overwhelming, but a little planning goes a long way. By keeping track of these key dates, you’ll ensure that everything is filed on time and avoid the stress of last-minute scrambles. Whether you’re an accountant working with multiple clients or a business owner managing your own affairs, knowing when these deadlines are coming up will help you stay organised and compliant.

Understanding how these changes affect your finances is crucial. If you’re feeling uncertain about the impact on your personal situation, now’s a great time to chat with an expert.

Feel free to reach out for a quick, no-obligation consultation on how these dates (and other EOFY considerations) might influence you or your business. Simply click below to get started! https://outlook.office.com/owa/calendar/Gbb3a34b300e54bd69fcde3093183c30e@thehopkinsgroup.com.au/bookings/

Labour has just handed down its final budget before the election, and it’s clear that whether you’re a taxpayer, healthcare user, or involved in certain industries, this budget has its winners and losers. Here’s a quick look at the key takeaways and what it means for you.

Winners

Taxpayers: Taxpayers across the country will get immediate relief, with cuts of up to $268 in the first year. This will gradually rise to $536 by mid-2027, easing the pressure on household budgets.

Low-Income Households: Those in lower income brackets will see the Medicare levy threshold rise, saving an extra $122 annually. Plus, costs for PBS medicines and GP visits will be reduced, and the energy rebate is extended for another six months.

Energy Bills: Households will also see electricity bills drop by $150, thanks to the extension of the $75 quarterly rebate through 2025.

First Homebuyers: The government is making the Help to Buy scheme more accessible with an $800 million investment, helping more Australians step onto the property ladder.

Healthcare: GPs will receive higher payments for bulk-billing, and 50 new Medicare urgent care clinics will open, making healthcare more accessible. Public hospitals get an extra $1.8 billion, with a new $793 million women’s health initiative on the horizon.

Students and Apprentices: University loan balances could be reduced by 20%, and the Free TAFE program is expanding to offer 100,000 places annually. Plus, apprentices in the building industry will see training incentives rise to $10,000.

Losers

Multinationals & Foreign Homebuyers: The ATO will get a $999 million boost to tackle tax avoidance, and from April 1, temporary residents will face a two-year ban on buying existing homes.

Big Retailers: The ACCC is getting $38.8 million to crack down on illegal practices like price gouging in large retailers.

Consultancies: Large firms like PwC, KPMG, and Deloitte will continue to face restrictions on government contracts.

NDIS Fraud: The government is investing $175 million to fight fraud within the NDIS, ensuring the funds go where they’re needed most.

Smokers: A $156 million initiative aims to disrupt the illegal tobacco trade, protecting both public health and the legal market.

What’s Next?

Understanding how these changes affect your finances is crucial. If you’re feeling uncertain about the impact on your personal situation, now’s a great time to chat with an expert.

Feel free to reach out for a quick, no-obligation consultation on how the budget might influence you. Simply click below to get started! The Hopkins Group – 15 Quick Chat

Melbourne’s rental market continues to evolve, with rising demand and low vacancy rates. Whether you’re a tenant or a landlord, staying informed is crucial to navigating the current landscape. Here’s what you need to know:

1. Rising Rent Prices

Rent prices in Melbourne have been increasing, particularly in sought-after areas. Tenants should budget for potential rent hikes, while landlords need to ensure their properties are priced competitively and remain attractive to tenants.

2. Lease Agreements & Rental Terms

Understanding lease terms is essential. For tenants, be clear on rent payment schedules, lease length, and your rights regarding rent increases or repairs. For landlords, ensure your lease agreements comply with the latest regulations and are transparent for both parties.

3. Demand for Flexible & Affordable Housing Solutions

With the cost of living rising, many tenants are seeking affordable, flexible housing options like shared housing or co-living spaces. Landlords offering these types of properties can tap into a growing market and attract a broader range of tenants.

4. Maintenance and Tenant Satisfaction

Tenants value well-maintained properties. Landlords who stay on top of repairs and ensure their property meets safety standards will foster better relationships with tenants, leading to longer leases and fewer vacancies.

5. Understanding Your Rights & Responsibilities

Tenants should be aware of their rights when it comes to rent increases, repairs, and lease termination. Landlords must understand their obligations to ensure compliance with safety regulations and tenant laws, helping to avoid disputes.

Looking to Rent or Invest in Melbourne?

Whether you’re a tenant searching for your next home or a landlord seeking professional property management, we can assist you.

If you’re a renter and are interested to see the list of rental properties available, please click the link below : https://thehopkinsgroup.com.au/rental/

If you’re a landlord and wondering how we can help you and your rental property succeed, please a book in a free, no-obligation 15-minute consultation with our business development manager, Sarah Holdsworth

Buying your first home is exciting, but it can also be overwhelming. With over four decades of experience, we’re here to simplify the process and guide you through every step, from understanding your eligibility for grants to securing the best mortgage.

Grants and Schemes You Could Qualify For:

• First Homeowner Grant: Up to $10,000 in Metro Melbourne, $20,000 in regional Victoria.
• Stamp Duty Exemptions: For properties under $600,000.
• Stamp Duty Concession: For properties between $600,001 and $750,000.
• First Home Guarantee: Only a 5% deposit needed, with NHFIC guaranteeing up to 15%.
• Family Home Guarantee: For single parents, with just a 2% deposit and NHFIC guaranteeing up to 18%.

Expert Support, Every Step of the Way

Once we’ve assessed your eligibility, our mortgage specialists will help you navigate the application process. With access to over 50 lenders, we’ll ensure you get the most competitive mortgage deal.

Let’s Make Your Dream Home a Reality

We’re here to help you every step of the way. Book a free, no-obligation consultation 15-minute free no-obligation with one of our experts today and start your journey toward homeownership.

If you’re thinking about renting a room in a rooming house, you’re likely looking for something affordable, flexible, and practical. Whether you’re a student, a young professional, or just in between living arrangements, rooming houses can be a great solution.

But what should you expect/ consider before making your move?

1. Shared Space & Amenity
Typically, you’ll have your own private room, but the rest of the house—like the kitchen, bathroom, and living areas—will be shared with other tenants. This means you’ll need to be comfortable with communal living. Most rooming houses have clear guidelines around shared responsibilities, like cleaning and being mindful of noise. It’s all about mutual respect and good communication to make sure everyone feels at home.

2. A Slightly Different Rental Arrangement
Before moving in, you’ll be asked to sign an occupancy agreement. This document is important as it outlines the details of your stay, such as the rent, the duration of your tenancy, and the rules of the house. These rules often cover things like guest policies, quiet hours, and cleaning duties. Be sure to read the agreement carefully so you understand everything upfront—this can help avoid any surprises later on.

3. A Cost-Saving Living Solution
One of the biggest advantages of rooming houses is that they’re generally more affordable than renting an entire apartment or house. In many cases, rent also includes utilities like water, electricity, and sometimes even Wi-Fi, which makes budgeting much easier. However, it’s always a good idea to confirm exactly what’s included in the rent before signing anything.

4. Safety Measures & Compliance
Safety is also a priority in rooming houses. They are required by law to meet certain safety standards, such as working smoke alarms and fire exits. Some may even offer added security features, like cameras or key access systems, to make you feel more secure.

If You Are Looking to Rent a Rooming House
The Hopkins Group is a trusted licensed rooming house operator, with an array of rooming house and co-living properties across Melbourne and Victoria for renters looking for a more flexible and affordable living solution.

Our listings are available on all major rental real estate websites, as well as on our website under ‘property’ and ‘rental property’. You can also contact us on 1300 762 136 and speak to our property team for our list of rooming house/ co-living properties currently available for rent.

If you’re looking to invest in a rooming house or need expert property management for your rooming house investment, we’d love to help.

Book a free, no-obligation 15-minute https://outlook.office365.com/book/MichaelWilliamsBookings@thehopkinsgroup.com.au/ discovery session to discuss how we can assist you in achieving your financial goals, whether for yourself, your family, or your future.

Estate planning might seem daunting, but it’s essential to protect your loved ones and ensure your wishes are carried out when you can no longer make decisions. Too often, people delay planning until it’s too late, leaving families to manage the aftermath during an already difficult time. By planning ahead, you make sure your family’s future is secure and your intentions are clear.

Why Estate Planning Matters

If you don’t have a plan in place, your assets may not go to the people you want them to. Without a will, your estate will be divided according to the law, which can cause confusion and stress for your family. Having a clear estate plan ensures your property and healthcare decisions are in good hands and helps prevent potential disputes between loved ones.

The Key Documents You Will Need are:

1. A Will – This is the foundation of your estate plan. It outlines who gets what and who will look after your children if they’re minors. It’s also a great way to set out your funeral wishes.
2. Power of Attorney (POA) – If something happens and you’re unable to manage your affairs, a POA lets you appoint someone to make financial and legal decisions for you. You can also set up an Enduring Power of Attorney to keep this in place if you lose the ability to make decisions.
3. Enduring Guardian or Living Will – An Enduring Guardian makes personal and healthcare decisions for you if you’re not able to. A Living Will outlines your preferences for medical care, especially if you can’t speak for yourself.
4. Trusts – A trust lets you pass assets to others in a way that can help reduce taxes and avoid long, drawn-out probate processes. It’s an effective way to protect your estate and ensure your loved ones receive what you intend.

How Can a Financial Advisor Help You Plan Ahead?

• Establish an Optimised Estate Plan– From establishing a trust to strategic allocation of your assets, a financial advisor can help you navigate the complex legal and legislative requirement needed to establish the optimise structure for your estate planning.
• Avoid Family Drama – Estate disputes are all too common, but clear instructions in a well-thought-out plan can save your family from unnecessary conflict.
• Save Your Loved Ones from Stress – Without a plan, your family may face tough decisions at a time when they’re least prepared. Having everything sorted out gives them peace of mind.
• Reduce Taxes – Planning your estate carefully can help minimise tax burdens for your beneficiaries, ensuring more of your assets go to them rather than the government.

Take Control of Your Future

Estate planning doesn’t have to be overwhelming—it’s simply about making sure your loved ones are taken care of when you’re no longer able to do so. If you’re ready to start, book a free, no-obligation 15-minute chat The Hopkins Group – Financial Planning with one of our advisors to get the ball rolling.

Retirement is a significant milestone that requires thoughtful planning to ensure a smooth transition. Below are ten essential steps that every professional should take as they approach this next phase in life.

1. Assess Your Financial Situation – Begin by reviewing your current savings, investments, and superannuation contributions. Take stock of assets like property or valuables that may contribute to your retirement. Understanding your financial picture will help identify any gaps, enabling you to make the necessary adjustments. A conversation with a financial advisor can provide clarity and help create a plan for growing your savings.
   
2. Evaluate Pension and Superannuation Options – Your retirement fund is likely to be your primary income source in retirement. Review your superannuation or pension plans to ensure contributions are on track with your goals. Explore options like income streams or annuities, and be sure to assess your eligibility for government support, such as the Age Pension, to fill any potential income gaps.
   
3. Plan Your Retirement Budget – Estimate both essential living expenses and discretionary spending, such as travel or hobbies. Don’t forget to factor in rising healthcare costs and inflation. Creating a well-balanced budget will ensure that your savings last throughout your retirement. Revisiting your budget regularly will help keep you on track.
   
4. Review Health Insurance and Estate Planning – Take a close look at your health insurance coverage to ensure it suits your future needs, considering private options if necessary. It’s also important to update your will, power of attorney, and other estate documents to ensure your wishes are clearly documented. Consulting with an estate planning professional will help secure your assets for future generations.
   
5. Consider a Transition Plan – Easing into retirement gradually can make the shift smoother. Reducing your work hours or taking on consulting roles can help maintain a sense of purpose. Consider how you’ll spend your time, whether through hobbies, volunteering, or learning opportunities, to stay mentally and physically active in retirement.
   
6. Downsizer – explain what downsizer is and outline this strategy works well for people who have no debt or significant equity in their primary place of residence looking to downsize into smaller properties for lifestyle purposes and inject surplus into superannuation as a Downsizer contribution. Do some research on this and may want to include the same.
   
7. Optimise Contribution Strategies leading towards retirement – strategies to consider include, Salary Sacrifice, Bringing forward any Unused Concessional Contributions, arranging Non-Concessional Contributions. Do some research across these and you may want to include the same.
   
8. Tax – moving into retirement doesn’t mean you will not have tax implications. Consider your existing investments and identify if these will continue to have tax obligations into retirement, or consider how to optimise ownership structure to help offset or reduce future tax into retirement.
   
9. Debt Management – review current lending position and determine if any debt will be retained into retirement, or whether you will be expunging remaining debt and how this will be arranged.
   
10. Consult a Financial Advisor – Before making any major decisions, it is prudent to consult a qualified financial advisor. An advisor can provide personalised advice based on your specific circumstances and goals, ensuring your strategy is sound and aligned with your retirement aspirations.
    
    Ready to Plan for a Secured Retirement? Book a free no obligation 15-minute conversation The Hopkins Group – Financial Planning with one of our financial advisors to discuss your retirement goals and ensure you’re on the right path.

Purchasing a holiday home can be a rewarding investment, but it’s important to consider how to make the most financially beneficial decision. Here are five key tips to guide your purchase:

1. Clarify Your Purpose
Determine if the property will be your primary residence, a holiday home for personal use, or an investment property for rental income. This will affect your tax benefits, such as capital gains tax exemptions for primary residences or deductions for investment properties.

2. Understand Tax Implications
Tax benefits and obligations vary based on your property’s use. For investment properties, you can benefit from deductions on maintenance, management fees, and loan interest. Be sure to consult with a tax professional to ensure compliance and avoid any penalties.

3. Evaluate Financing Options
Banks may have stricter lending criteria for holiday homes or secondary properties. Shop around for the best mortgage rates and ensure your borrowing aligns with your financial goals. It’s best to contact your advisor to help guide you through the process.

4. Account for Ongoing Expenses
Holiday homes often require higher maintenance costs. Factor in utilities, insurance, management fees, and repairs, and set aside a budget for emergencies.

5. Maximise Rental Income
If your property is an investment, research the local rental market and understand any regulations around short-term rentals. Platforms like Airbnb can be lucrative but require compliance with local laws.

Key Takeaway
Whether for personal use or investment, make informed decisions by understanding the financial, tax, and legal aspects of purchasing a holiday home. Always consult with experts to avoid penalties and maximise your benefits.

If you have questions about purchasing a holiday home or need guidance on making the right financial decision, please contact your advisor or book a 15-minute free introductory meeting with one of them: https://outlook.office365.com/owa/calendar/Gbb3a34b300e54bd69fcde3093183c30e@thehopkinsgroup.com.au/bookings/

As we approach the end of the financial year (EOFY), it’s essential to start planning now to make the most of the remaining months. By taking action early, you gain greater control over your cash flow, optimise tax-saving opportunities, and set realistic financial goals. Whether you’re managing personal finances or running a business, early preparation will help you finish the year on a strong note.

One of the main benefits of planning your EOFY now is better cash flow management. By reviewing your finances and anticipating key expenses, you can avoid last-minute financial stress. This proactive approach ensures you can cover large expenses—such as taxes, end-of-year bonuses, or any personal financial goals—without scrambling to find funds at the last minute.

Tax planning is another critical advantage of preparing for EOFY in advance. By taking the time now to assess your financial situation, you can make strategic moves to reduce your tax liabilities. Consider contributing to retirement funds or reviewing your deductions to maximise your tax benefits. Planning early allows you to make informed, strategic decisions that can positively impact your financial position.

Setting financial goals for the remainder of the year is far more effective when you plan ahead. Whether it’s saving for an upcoming expense, investing in your future, or improving your business finances, now is the time to define SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals. With a clear strategy in place, you’ll stay focused and motivated to meet your objectives before the EOFY.

Another significant advantage of planning ahead is the financial security it brings. When your finances are organised, you can approach the EOFY with confidence, knowing that you’re prepared for any surprises. With a clear plan, you can also navigate unforeseen events—such as changes in market conditions or interest rates—without derailing your financial goals.

Lastly, by planning now, you’ll be able to identify any potential risks or opportunities before it’s too late. Whether it’s investment opportunities, government incentives, or financial adjustments, early planning helps you make the most of any advantageous situation, boosting your financial health as you head into the next year.

Ready to take control of your EOFY? Contact us today at The Hopkins Group – 15 Quick Chat to discuss how we can help you achieve financial success in 2025!

When it comes to securing a mortgage, you might wonder whether it’s better to go directly to a bank or to use a mortgage broker. While both options can help you secure financing, brokers offer several key advantages that make the process easier and more efficient.

1. Broader Range of Products

Banks typically offer their own mortgage products, meaning your options are limited to what they provide. In contrast, mortgage brokers have access to a wide variety of mortgage products from multiple lenders. This flexibility allows brokers to find a deal that best suits your needs, whether you’re a first-time buyer or looking for something more specialised, like a buy-to-let mortgage.

Brokers can also access exclusive deals that are not available to the public, potentially securing better interest rates or more favourable terms than a bank could offer.

2. A Stress-Free Process

Securing a mortgage involves a lot of paperwork and communication with lenders. When you go directly to a bank, you must handle most of this yourself. With a mortgage broker, however, they manage the entire process for you—from paperwork to liaising with lenders. This reduces your stress, saves you time, and ensures the application process runs smoothly.

Brokers also have a deep understanding of the requirements for different lenders, which can help avoid delays or mistakes that might arise when you’re navigating the process on your own.

3. Tailored Investment Strategies

While banks offer standard mortgage products, a mortgage broker provides personalised advice tailored to your specific financial situation and goals. Brokers can help with more than just securing a home loan—they can also assist in developing investment strategies, particularly if you’re interested in property investment. Whether you’re looking for tax-efficient options or advice on building a property portfolio, brokers bring expertise that banks simply can’t offer.

4. Independent Advice

Banks have their own products to sell, which can create a conflict of interest when advising you. A mortgage broker, however, works independently and is focused solely on finding the best deal for you. This impartial advice ensures you get the most competitive terms available based on your financial profile.

Conclusion

In short, mortgage brokers offer significant advantages over banks: access to a wider range of products, a stress-free application process, tailored investment strategies, and independent, expert advice. If you’re looking for a more personalised and efficient way to secure your mortgage or develop an investment strategy, a mortgage broker is likely your best option.